The Nigerian National Petroleum Company Limited (NNPCL) has declared a profit after tax of N905 billion for the month of June 2025, a decline from the N1.054 trillion recorded in May.
The company’s latest monthly financial and operational report also revealed that it remitted a total of N6.961 trillion to the Federation Account between January and May 2025. This figure reflects a significant increase from the N5.583 trillion it had remitted by the end of April.
According to the report, the company generated N4.571 trillion in revenue in June, a drop from the N6.008 trillion posted in May. The reduction is attributed to fluctuations in global crude oil prices, even as domestic production levels witnessed a slight uptick.
Crude oil and condensate production rose from 1.629 million barrels per day (bpd) in May to 1.68 million bpd in June. Similarly, natural gas production increased from 7.352 billion standard cubic feet per day to 7.581 billion scf/d within the same period.
On the downstream front, NNPCL reported improved availability of Premium Motor Spirit (PMS), with product sufficiency at its retail stations rising to 71 percent in June, up from 62 percent in May.
Progress was also reported on major gas infrastructure projects. The Ajaokuta-Kaduna-Kano (AKK) gas pipeline project reached 83 percent completion, up from 81 percent in the previous month, while the OB3 pipeline project remained at 96 percent completion. The company said it successfully completed the River Niger crossing segment of the AKK pipeline and has initiated a technical review of the OB3 crossing, applying lessons from the AKK experience.
NNPCL added that assessments were ongoing at the Port Harcourt, Warri, and Kaduna refineries as part of its refinery rehabilitation efforts.
In terms of corporate social responsibility, the company said over 67,000 NYSC corps members benefited from its financial literacy programme in June alone, bringing the total number of participants trained to 870,383.
The report signals continued operational progress for the national oil company despite ongoing challenges in the global oil market.
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